The New York Stock Exchange (“NYSE”) announced today that the staff of NYSE Regulation, Inc. (“NYSE Regulation”) has determined to commence proceedings to delist the Preferred Stock (“Preferred Stock”) of the Mexico Equity & Income Fund, Inc. (the “Fund”) -- ticker symbol MXE PR -- from the NYSE. Trading in the Fund’s Preferred Stock will be suspended prior to the opening of trading on March 22, 2013.
NYSE Regulation has determined that the Preferred Stock is no longer suitable for listing because it does not meet the minimum continued listing distribution requirement of 100,000 publicly held shares outstanding as set forth in Section 802.01 of the NYSE Listed Company Manual.
The Fund has a right to a review of this determination by a Committee of the Board of Directors of NYSE Regulation. Application to the Securities and Exchange Commission to delist the issue is pending the completion of applicable procedures, including any appeal by the Fund of the NYSE Regulation staff’s decision.